Director talk: Caroline Hitch
Caroline is chair of CQS New City High Yield Fund.
In the boardroom
How would you explain your role to somebody who was new to investment trusts?
As chair of the board of New City High Yield Fund I am the leader of a team that is dedicated to the success of the trust. I make sure that the board functions effectively, and that all the directors contribute their skills and expertise so that the trust delivers value for shareholders. I also oversee all of our service providers and advisers to check they are delivering as agreed.
What’s the number one skill you bring to the board?
Experience across the financial sector with a deep understanding not only of investment management, but also of governance requirements to safeguard shareholders’ interests.
I am quite a good singer and sing first soprano – the highest line – with the Reading Bach Choir. I absolutely love it.
Caroline Hitch, chair of CQS New City High Yield Fund
What is the proudest moment of your career?
My first job out of university was at James Capel & Co. The validation of my academic success from a top firm wishing to employ me was a great feeling.
What’s the most challenging part of your job as a trust director?
There are many challenges, but keeping on top of the changing regulatory, financial and economic environment is one of the most challenging. However, if you have a good board, good service providers and good advisers, this should be manageable.
What advice would you offer to new directors?
Always keep the best interests of your shareholders in mind and you will likely steer the right course. Build good but professional relationships with your fellow non-executive directors and all your wider team. Be prepared to speak up.
There is lots of helpful information for new directors on the AIC website so look at all of it.
Away from work
What’s your number one desert island disc?
Andras Schiff playing Bach’s Goldberg Variations.
Of all the places you have visited on your travels, which comes top of the list and why?
The rock-hewn churches of Lalibela in Ethiopia and particularly the Church of Saint George. I am not a religious person but these places, apart from being stunning and unique in themselves, have a tangible spirituality enhanced by their continued use.
What food couldn’t you live without?
I need two: chocolate and mangoes.
What is a hidden talent that few people know you have?
I am quite a good singer and sing first soprano – the highest line – with the Reading Bach Choir. I absolutely love it.
What do you do for fun?
Other than singing? Walking with the dog, messing about on the Thames in my boat, gardening, painting, concerts, theatre, yoga and every year I make our Christmas cards by hand.
In addition to her chair role on CQS New City High Yield Fund, Caroline is a Senior Independent Director on abrdn Equity Income Trust. She was previously on the board of Schroder Asian Total Return Investment Company for nine years. Caroline’s career also includes portfolio and investment management roles with the HSBC group. Most recently, she was Head of Wealth Portfolio Management, with investment responsibility for HSBC’s flagship retail multi asset funds.
